Global Transradial Access Devices Market

Transradial Access Devices Market Size, Share, Growth Analysis, By Product (Catheters, Guidewires), By End-use (Hospitals, Clinics & Ambulatory Care Centers), By Application (Drug Administration, Fluid and Nutrition Administration), By Region - Industry Forecast 2025-2032

Report ID: SQMIG35H2302 | Region: Global | Published Date: November, 2024
Pages: 159 | Tables: 93 | Figures: 68

Transradial Access Devices Market News

  • In February 2024, AngioDynamics announced the U.S. FDA 510(k) clearance for their Auryon XL catheter for treatment of peripheral vascular disease.
  • In November 2023, one of the global leaders in cardiology announced the completion of the celebration of patient nomination.
  • In February 2022, Launch Minnesota awarded approximately $440,000 in matching grants to recipients of SBIR/STTR 17. The award included Conway Medical, which developed a new thrombectomy system with cavity sizes suitable for the transradial approach.
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Global Transradial Access Devices Market size was valued at USD 1.95 billion in 2022 and is poised to grow from USD 2.11 billion in 2023 to USD 3.85 billion by 2031, growing at a CAGR of 7.81% during the forecast period (2024-2031).

Strategic partnerships and acquisitions are key strategies used by the major players to expand their market position and product offerings. Collaboration between healthcare institutes and research organizations helps companies stay ahead of technological developments, improving their market performance. Companies invest heavily in R&D to come up with the advanced transradial access devices with advanced features such as improved flexibility, visibility, patient comfort etc. Innovations such as low-profile sheaths and advanced guidewires are in development prevalent, indicating that the industry is focused on meeting the evolving needs of healthcare professionals. 'Terumo Corporation ', 'Medtronic ', 'Boston Scientific Corporation ', 'BD ', 'Cardinal Health ', 'AngioDynamics ', 'Merit Medical Systems ', 'Edwards Lifesciences Corporation ', 'NIPRO Medical Corporation ', 'Abbott Laboratories  ', 'Teleflex Incorporated ', 'GTCR LLC ', 'iVascular S.L.U. ', 'Kimal plc ', 'Penumbra Inc. ', 'Stryker Corporation ', 'Semler Technologies, Inc.'

The transradial access technique is rapidly gaining popularity due to its minimal invasive nature, allowing surgeons to access the radial artery of the wrist for a variety of cardiac interventions. Unlike femoral approach, the transradial access presents fewer complications such as bleeding and faster operative time. This not only increases patient comfort, but also shortens hospital stays, reducing overall healthcare costs. With the increasing focus of healthcare systems across the world on cost-effective treatment, the demand for ventilator devices is on the rise.

Technological Advances in Equipment: The transradial access devices market is benefiting from the innovations in medical technology. Device manufacturers have focused on improving catheter design, guidewires, and dressings to make them more accessible and efficient. For example, catheters are now available in thinner and more flexible varieties, making the treatment safer for many patients. These developments are expected to encourage more healthcare facilities to adopt the aerobic approach, driving the growth of the market in the coming years.

Asia-Pacific region in the transradial access devices market dominated the market with revenue share of 25.4% in 2023. This region is fueled by huge patient population with cardiovascular diseases, advancements in healthcare, increasing awareness of regarding radial artery access and other products emerging as an attractive market. Rapid market expansion in countries such as China, India and Japan, driven by increased awareness of less invasive procedures among patients and healthcare professionals. Asia-Pacific region in the market is also available for medical device manufacturers availability and affordability increase in this region.

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Global Transradial Access Devices Market

Report ID: SQMIG35H2302

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